HKG:2677 Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Revenue	1,065	958.58	690.44	473.18
Revenue Growth (YoY)	11.05%	38.84%	45.91%	-
Cost of Revenue	797.49	732.58	556.93	429.2
Gross Profit	267.04	226	133.5	43.98
Selling, General & Admin	234.15	280.41	200.07	196.26
Research & Development	4	-	-	-
Other Operating Expenses	0.58	-1.63	-1.62	-1.51
Operating Expenses	238.72	279.93	198.75	194.8
Operating Income	28.32	-53.93	-65.25	-150.82
Interest Expense	-12.52	-16.64	-16.04	-15.54
Interest & Investment Income	2.48	8.62	10.15	1.17
Earnings From Equity Investments	-	-0.14	-	-
Currency Exchange Gain (Loss)	0.41	5.23	-2.95	2.35
Other Non Operating Income (Expenses)	-	-0.13	0.08	-0.05
EBT Excluding Unusual Items	18.69	-56.99	-74.02	-162.89
Gain (Loss) on Sale of Investments	4.28	8.68	7.17	9.36
Gain (Loss) on Sale of Assets	-5.11	-3.24	-1.03	-1.83
Other Unusual Items	118.07	131.31	-294.32	-83.97
Pretax Income	135.93	79.74	-362.19	-239.33
Income Tax Expense	4.48	-0.48	-8.95	-17.81
Earnings From Continuing Operations	131.45	80.23	-353.25	-221.52
Minority Interest in Earnings	3.62	3.58	2.58	6.03
Net Income	135.06	83.81	-350.67	-215.5
Net Income to Common	135.06	83.81	-350.67	-215.5
Net Income Growth	61.17%	-	-	-
Shares Outstanding (Basic)	14	14	14	14
Shares Outstanding (Diluted)	55	54	14	14
Shares Change (YoY)	0.81%	288.49%	-	-
EPS (Basic)	9.68	6.01	-25.14	-15.45
EPS (Diluted)	0.31	-0.83	-25.14	-15.45
Free Cash Flow	211.25	113.37	57.4	-79.9
Free Cash Flow Per Share	3.87	2.09	4.12	-5.73
Gross Margin	25.09%	23.58%	19.34%	9.29%
Operating Margin	2.66%	-5.63%	-9.45%	-31.87%
Profit Margin	12.69%	8.74%	-50.79%	-45.54%
Free Cash Flow Margin	19.84%	11.83%	8.31%	-16.89%
EBITDA	88.11	5.87	-9.31	-105.55
EBITDA Margin	8.28%	0.61%	-1.35%	-22.31%
D&A For EBITDA	59.79	59.79	55.94	45.27
EBIT	28.32	-53.93	-65.25	-150.82
EBIT Margin	2.66%	-5.63%	-9.45%	-31.87%
Effective Tax Rate	3.29%	-	-	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.